Solved

Solve the Problem

Question 31

Multiple Choice

Solve the problem. Round dollar amounts to the nearest cent. Use ordinary interest unless otherwise indicated.
-Bob's BBQ signed a note with a face value of $18,500.00 on September 11. The note is for 90 days and carries an interest rate of 9%. Find the due date and the maturity value of the note.


A) December 10, $18,916.25
B) December 12, $18,500.00
C) December 11, $19,055.00
D) December 11, $20,165.00

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions